Best SIP Plans to Invest in India
Investing in market-linked assets can be done in two ways: through the lump sum or single payment method or through the SIP investment method. A SIP's full form is Systematic Investment Plan (SIP), and these are the best investment plans for an investor to build a huge corpus through disciplined investing in market-linked funds. The best SIP Plans in India are offered by fund houses through Mutual Funds, insurance companies through ULIP Plans, and other financial institutions.
|CATEGORY||SIP By insurance Companies||SIP By Fund Houses|
|RETURNS (Past 10 Years)||13.66%+||14.48%+|
On all plans
Only on ELSS
Best SIP Plans in India in 2023
The SIP investments provided by the fund management institutions have given very high returns in the long term to disciplined investors even during volatile market scenarios.
- Insurance Companies
- Mutual Funds
There is a wide range of systematic investment plan options available in ULIPs today. Let us take a look at the list of best SIP plans to invest in 2023 in India:
|Fund Name||3 Years||5 Years||10 Years|
|Top 200 Fund Tata AIA||28.32%||24.81%||
|Virtue II PNB Metlife||23.25%||19.25%||
|Pure Equity Birla Sun Life||20.23%||15.93%||
|Growth Opportunities Plus Fund Bharti AXA||19.08%||16.31%||
|Growth Fund LIC||10.74%||-||
|Pure Stock Fund Bajaj Allianz||17.73%||14.52%||
|Blue Chip Fund HDFC Standard||14.99%||13.28%||
|Growth Super Fund Max Life||15.25%||13.34%||
|Multi Cap Growth Fund ICICI Prudential||16.69%||11.58%||
|Equity Fund SBI||14.78%||12.92%||
Updated as on October 2023
Top SIP ULIP Plans in Detail
Here are some of the sorted best SIP plans for 5 years of annualised returns. One can invest in these highest-return SIPs for the long term and earn significant gains at the end of their tenure:
Tata AIA Life – InvestAssure Superstar- Super Select Equity Fund
This is a Flexicap ULIP fund in which most of the investment is made under equity and equity-related instruments. Tata AIA Life's Super Select is a Flexi Equity Fund among the best SIP investment plans in the market.
It diversifies its portfolio among various large-cap, mid-cap, as well as small-cap stocks. This fund is offering an average return of 15.53% in 10 years.
Along with portfolio diversification, the fund managers under this fund focus on generating decent returns for their investors.
Aditya Birla Sun Life – Individual Pure Equity Fund
A joint venture of Sun Life Financial Incorporation and Aditya Birla Group, Aditya Birla Sun Life –Individual Pure Equity Fund is one of the best SIP plans in India. This SIP investment fund holds total assets of Rs. 13.62 billion until date with 10-year returns of over 15.23%.
The Individual Pure Equity Flexicap fund focuses on growing the invested wealth of the investors exponentially.
Bajaj Allianz Pure Stock Fund
Bajaj Allianz offers this open-ended Flexicap Fund with its diverse equity portfolio of investing in small-cap, mid-cap, and large-cap funds. This pure stock fund holds a Net Asset Value of (Rs. 97.97 per share) and a total assets value of Rs. 44.03 billion.
It is considered one of the best SIP plans as it invests most of the money in equity stock funds and offers a 10-year return of 14.93% annually. The date of incorporation of the fund scheme is July 21, 2006. The fund involves high risk-taking by the investor.
Tata AIA Life- Whole Life Aggressive Growth Fund
Tata AIA Life's Aggressive Growth Fund was incorporated on January 08, 2007, with a total assets value of Rs. 6.07 billion. This is one of the best SIP investment plans in the aggressive fund allocation category. This fund puts large money allocations in multiple assets like equity, precious-metal ETFs, and more.
The SIP plan puts larger funds of 61% .in bond holdings and offers 10-year returns of 13.67. The risk involved is relatively higher in this fund scheme.
Future Generali India Life- Future Apex Fund
Future Generali Life's Future Apex Fund is an open-ended fund that invests in large-cap insurance stocks in India. The large blending investment style management of this fund invests 89% portion of its funds in equity holdings.
This fund holds a Net Asset Value of Rs. 37.93 per share and a 10-year return of 12.78%. The highlight is 18% of Women Directors and 7% of Women Executives managing this fund.
Here is a list of the top mutual funds for SIPs to invest in 2023:
|Fund Name||3 Years||5 Years||10 Years|
|Large Cap Fund Nippon India||29.45%||15.33%||
|Bluechip Fund SBI||22.34%||14.79%||
|Cap Fund Edelweiss Large||20.14%||14.01%||
|Frontline Equity Fund Aditya Birla Sun Life||21.57%||13.35%||
|Bluechip Fund ICICI Prudential||24.00%||14.36%||
|Large Cap Fund Mirae Asset||18.65%||13.49%||
|Bluechip Equity Fund Canara Robeco||18.57%||15.24%||
|Bluechip Growth Kotak||19.78%||14.55%||
|Large Cap Fund Baroda BNP Paribas||19.37%||15.09%||
Updated as on October 2023
Best Mutual Funds for SIP in Detail
Quant Tax Plan- Direct-Growth Fund
This is currently the best SIP plan with the highest 5-year returns and excellent performance quality. This Equity Linked Savings Scheme (ELSS) fund aims to achieve long-term capital appreciation by investing in financial, energy, precious metals, and consumer staples.
Since its inception on January 01, 2013, the scheme offered by Quant Mutual Fund house has consistently given high returns and kept the losses at their lowest during the falling market. The fund holds Assets Under Management (AUM) of Rs 2692 crores and an expense ratio of 0.57%.
Quant Active Fund Direct-Growth
This open-ended equity fund aims to generate long-term capital appreciation. This fund makes investments in equity securities, mainly in the chemicals and material sectors.
It has doubled the invested amounts every 3 years as an equity-oriented, high-risk fund option. The fund was incepted on January 01, 2013, and currently, the Assets Under Management (AUM) are of Rs. 3556 crores, with an expense ratio of 0.58%.
PGIM India Midcap Opportunities Fund
Launched on November 11, 2013, PGIM India Mutual Fund house's Midcap Opportunities Fund is a high-risk-taking mutual fund. The primary objective of the scheme is to seek long-term capital growth.
The Assets Under Management (AUM) under this scheme is of Rs. 7558 crores and has a 0.44% expense ratio, which is far lower than other midcap funds charges. The money is invested in equity and mostly in Consumer Discretionary and material sectors. The fund has proven records of doubling the invested money every 3 years.
Parag Parikh Flexi Cap Fund
PPFAS Mutual Fund came up with a Flexi-cap equity scheme on May 13, 2013. Currently, the Assets Under Management are of Rs. 28248 crores and an expense ratio of 0.76%, which is slightly more than Quant Fund.
Doubling its investor's money every 3 years, the fund focuses on generating long-term capital growth. Primary investments are predominantly made in Technology, Consumer staples, and Automobiles sectors.
ICICI Prudential Gilt Fund Direct-Growth Plan
The ICICI Prudential Gilt Fund scheme was launched on January 01, 2013, and holds Rs. 2639 crores worth of AUM until December 31, 2022. This medium risk-taking fund has a minimum investment limit of Rs. 1,000.
The predominant objective of the fund is to provide capital appreciation while lending to borrowers with an excellent score and decreasing the default risk. The scheme has given doubled the invested money every 9 years.
Edelweiss Equity Savings Fund Direct-Growth Plan
Launched on September 22, 2014, Edelweiss Equity Savings mutual fund has an AUM of Rs 259 crores today. The scheme's primary objective is to seek long-term capital growth by currently investing around 36.22% in equity and 34.34% in debt-related securities.
The scheme does not guarantee any returns but has doubled its investors every 9 years. This fund invests majorly in the financial, energy, materials, and technology sectors. The downside is its low credit risk quality borrowers.
SBI Magnum Medium Duration Fund
As a medium duration, this fund lends majorly to moderate credit risk and profile borrowers. The scheme's main objective is to provide long-term capital appreciation and has given average returns of 9.10%.
Launched on January 01, 2013, and holds an AUM of Rs. 7146 crores with an expense ratio of 0.68%. Lending to better borrowers makes it a less defaulting fund.
ICICI Prudential Short-Term Fund Direct-Growth Plan
This is a short-duration mutual fund scheme offered by ICICI Prudential Mutual Fund house. Launched on January 01, 2013, the fund focuses on generating long-term capital growth. The fund holds an AUM of Rs. 14590 crores and an expense ratio of 0.39%, which is low like other short-duration funds.
The money is invested in debt instruments, making it diversified among quality borrowers and lowering the default risks. As a result, the fund has been doubling the money of its investors every 9 years.
Quant Absolute Fund-Direct Growth Plan
Quant Mutual Fund house offers this aggressive hybrid fund scheme to its investors to generate long-term capital growth, with its inception on January 01, 2013. The fund comes with an expense ratio of 0.56% and an AUM of Rs. 994 crores.
Primary investments are predominantly made into equity (76.92%) and debt-related instruments (13.34%) of companies in the energy, consumer staples, metal mining, and services sectors. However, the borrower's quality lends to be of risky quality. So, invest in this fund with caution.
Kotak Debt Hybrid Fund Direct-Growth Plan
This is a conservative hybrid fund offered by Kotak Mahindra Mutual Fund. The fund was launched on January 01, 2013, and currently holds an AUM of Rs. 1651 crores. The fund invests around 24.55% in equity assets and almost 69.52% in debt securities.
This fund is the best fit for investors who have a medium to low-risk appetite. The mutual fund scheme has doubled its investors' money every 7 years by lending and investing mostly in energy, automobile, and services sectors. The borrowers it lends to are also of moderate credit risk quality, making it a better fund.
When to ULIP vs. When to Mutual Fund - ULIP vs. Mutual Fund
Investors are always confused about how to choose between ULIP and MF-based systematic investment, as both these SIP investment options offer different benefits.
Below are some points of consideration gathered based on the research done by our financial experts. The following points will help investors decide the best SIP investment plan to meet their financial goals:
The process of SIP investments allows the investors to manage their personal finance and create a financial cushion so that they can achieve the financial objectives of life.
The contribution towards the best SIP plan helps investors manage their investments regularly in a simple and hassle-free way.
Even though returns on SIP mutual funds entirely depend on the market performance, mentioned above is the list of top-performing best SIP plans for the year 2023, wherein you can consider investing.
- Looking for medium to long-
- Want to grow wealth while
securing family future
- Have a low to medium
- You want to save on
- Want less stress during market
- A short-term or a
medium-term investment horizon
- Want to only grow wealth
- Have a high or medium
- Want high liquidity with no tax
- Have knowledge & expertise to
manage market volatility